KEXIM’s $2 Billion Offering

November 1, 2017

Cleary Gottlieb represented The Export-Import Bank of Korea (KEXIM) in its SEC-registered triple-tranche offering of $600 million floating-rate notes due 2022, $400 million 2.50 percent notes due 2020 and $1 billion 3.00 percent notes due 2022.

The transaction was a takedown from KEXIM’s shelf registration statement under Schedule B. The offering priced on October 24, 2017, and closed on November 1, 2017.

The notes were listed on the Singapore Exchange. BofA Merrill Lynch, BNP Paribas, Citigroup, Crédit Agricole CIB and MUFG were the joint bookrunners for the offering.

KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment and the development of natural resources abroad.